Corebridge Financial (NYSE:CRBG) Lowered to Sell Rating by Wall Street Zen

Corebridge Financial (NYSE:CRBG - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Sunday.

Several other equities research analysts have also recently weighed in on CRBG. Piper Sandler increased their price objective on Corebridge Financial from $38.00 to $40.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. UBS Group raised shares of Corebridge Financial from a "sell" rating to a "neutral" rating and lifted their target price for the company from $28.00 to $37.00 in a research note on Friday. JPMorgan Chase & Co. increased their target price on Corebridge Financial from $34.00 to $40.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Barclays raised their price objective on Corebridge Financial from $38.00 to $45.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Finally, Wells Fargo & Company increased their price target on shares of Corebridge Financial from $37.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Corebridge Financial has a consensus rating of "Moderate Buy" and a consensus target price of $39.91.

Corebridge Financial Price Performance

CRBG opened at $34.47 on Friday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.96. Corebridge Financial has a 12-month low of $23.69 and a 12-month high of $36.08. The stock has a 50-day moving average price of $33.06 and a 200-day moving average price of $31.80. The stock has a market capitalization of $18.95 billion, a P/E ratio of 29.21, a PEG ratio of 0.57 and a beta of 1.06.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.01. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $5.28 billion. Corebridge Financial had a return on equity of 22.19% and a net margin of 3.73%. During the same period last year, the company earned $1.10 EPS. Equities analysts predict that Corebridge Financial will post 5.43 earnings per share for the current fiscal year.

Institutional Trading of Corebridge Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its stake in shares of Corebridge Financial by 70.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,322 shares of the company's stock valued at $129,000 after buying an additional 1,787 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Corebridge Financial by 15.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,651 shares of the company's stock valued at $1,935,000 after purchasing an additional 8,815 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Corebridge Financial by 25.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company's stock worth $49,000 after acquiring an additional 329 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Corebridge Financial by 78.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 102,477 shares of the company's stock worth $3,072,000 after acquiring an additional 45,100 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Corebridge Financial by 288.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 32,855 shares of the company's stock valued at $983,000 after purchasing an additional 24,396 shares during the last quarter. Hedge funds and other institutional investors own 98.25% of the company's stock.

Corebridge Financial Company Profile

Corebridge Financial, Inc provides retirement solutions and insurance products in the United States. The company operates through Individual Retirement, Group Retirement, Life Insurance, and Institutional Markets segments. The Individual Retirement segment provides fixed annuities, fixed index annuities, variable annuities, and retail mutual funds.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.